BREAKING: Donald Trump's fortune is destroyed as Judge Arthur Engoron slams him with a $355 million fine in the New York civil fraud case — spelling doom for his embattled finances.
And that's not even the worst part for Trump...
In addition to the historically massive fine, Trump will be banned from borrowing money from any bank in New York for three years. This will make it difficult for him to raise money to appeal the judgement, which in turn might force him to sell off one of his beloved buildings or golf courses.
He will also be banned for three years from serving in any top roles at any New York companies, including his own.
The New York Times reports that an independent monitor will serve as "court's eyes and ears at the Trump Organization" and watch out for fraud or other suspicious behavior.
As The Daily Beast reports, the 9% interest rate on the judgement could ultimately push the total fines "well past $400 million" which would be the worst financial crisis Trump has ever faced.
The timing could not be any worse for Trump, who is currently fighting off numerous indictments that could land him behind bars. It's unclear how he will manage to pay his mounting legal fees.
Judge Engoron also banned Donald Trump Jr. and Eric Trump from serving as officers or directors of any New York corporation or legal entity for two years. They have been fined $4 million a piece.
This is a massive victory for New York Attorney Letitia James and the American people.
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